Top Economist on the Euro Crisis 'The German Government Will Pay Up'

In a SPIEGEL interview, leading German economist Stefan Homburg argues that euro-zone members should not bail out Greece, discusses who is making a profit from the crisis and explains why he himself is buying Greek bonds. "I believe in the boundless stupidity of the German government," he says.
Greek Prime Minister George Papandreou and German Chancellor Angela Merkel at the EU summit in Brussels on June 23.

Greek Prime Minister George Papandreou and German Chancellor Angela Merkel at the EU summit in Brussels on June 23.

Foto: YVES HERMAN/ REUTERS
Interview conducted by Armin Mahler